According to a numerous number of reviews on different online platforms regarding debt consolidation loan, it has been founded that a large number of Americans are being cheated by debt consolidation loan lenders. Some fraud lenders are offering them low rate debt consolidation loan to cover all their debts but the consumers in the country are forced to pay high-interest rate on monthly installments.
The debt consolidation loan has proven as a very effective way to consolidate all debts in the past. Using this, consumers can let all the debts such as personal loans, educational debts, as well as medical debts paid by a single creditor at a genuine interest rate. But Punch Associates scam in the country is in huge number. It is a part of a network run by debt consolidation websites operated and controlled by the MHA Nation of North Dakota. The company is doing a debt consolidation loan providing business in a very unethical way. It targets people with direct mail offers that send direct mail to consumers with a below-average credit score. The low credit score consumers get trapped into Punch Associates’ luring offers about a low interest rate debt consolidation loan.
Not only low credit score holders are being duped by the company but it is also targeting people who have a good credit score. It is increasing the financial burden and spoiling the credit score rating of the consumers. Many consumers have even filled lawsuits against Punch Associates to get justice over their increased debt burden.